Talking Medicare is the Senior Marketing Specialists weekly topic sheet. Information for agents to know for their clients, staff, and industry.

2017 Medicare Numbers to Remember

  • Basic Part B premium: $109 a month (was $104.90)
  • Part B premium for those not protected by hold harmless: $134 (was $121.80)
  • Part B deductible: $183 (was $166)
  • Part A deductible: $1,316 (was $1,288)
  • Co-payment for hospital stay days 61-90: $329 a day (was $322)
  • Co-payment for hospital stay days 91 and beyond: $658 a day (was $644)

Part A Premium: (Most Beneficiaries Do Not Incur This Cost):  $413

Part A Deductible and Coinsurance:

  • $1,316 deductible for each benefit period
  • Days 1-60: $0 coinsurance for each benefit period
  • Days 61-90: $329 coinsurance per day of each benefit period
  • Days 91 and beyond: $658 coinsurance per each “lifetime reserve day” after day 90 for each benefit period (up to 60 days over your lifetime)
  • Beyond lifetime reserve days: all costs
  • Skilled nursing facility co-payment, days 21-100: $164.50 per day

Medicare costs at a glance: https://www.medicare.gov/your-medicare-costs/costs-at-a-glance/costs-at-glance.html

CMS Announcement: https://www.cms.gov/Newsroom/MediaReleaseDatabase/Press-releases/2016-Press-releases-items/2016-11-10-2.html

Part B Premium:   $134/$109

The standard Part B premium amount in 2017 will be $134 (or higher depending on your income).

However, most people who get Social Security benefits will pay less than this amount. This is because the Part B premium increased more than the cost-of-living increase for 2017 Social Security benefits. If you pay your Part B premium through your monthly Social Security benefit, you’ll pay less ($109 on average).

You’ll pay the standard premium amount if:

>You enroll in Part B for the first time in 2017. >You don’t get Social Security benefits.  >You’re directly billed for your Part B premiums.

>You have Medicare and Medicaid, and Medicaid pays your premiums. (Your state will pay the standard premium amount of $134.)

Part B Premium for Higher Income Beneficiaries:

If your yearly income in 2015 (for what you pay in 2017) was:

 

2017-part-b

Part B Deductible:   $183

Medicare part B costs outlined: https://www.medicare.gov/your-medicare-costs/part-b-costs/part-b-costs.html

Part D

Premiums vary by plan. The following amounts will be added for higher income beneficiaries:

 

2017-part-d

Standard Benefits as outlined by CMS:

  • Max Deductible: $400
  • Initial Coverage Limit: $3700
  • During Donut Hole:
    • Brand Name drugs will have a 60% discount on the total cost.
    • Generic drugs will receive a 49% discount. (The 51% that you spend counts toward your TrOOP.)

https://www.medicare.gov/part-d/costs/coverage-gap/part-d-coverage-gap.html

  • Out-of-Pocket Threshold: $4950

Medicare and You 2017: https://www.medicare.gov/pubs/pdf/10050-Medicare-and-You.pdf